TRADING UPDATES: Mobile Streams revenue surges in first quarter

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on ...

Alliance News 18 March, 2021 | 2:58PM
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(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

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Mobile Streams PLC - mobile content and data intelligence company headquartered in London - Announces "major contract" win with Quanta Media Group Holdings worth GBP480,000 for its use of its Streams data platform. The deal will last four years with a minimum GBP10,000 per month for at least a year. Says it will increase monthly Streams revenue from April to an estimated GBP25,000 per month, an increase of over 100% since December.

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Randall & Quilter Investment Holdings Ltd - Bermuda-based firm focused on non-life legacy insurance and program management - Inks agreement to increase stake in New York-based managing general agent Tradesman Program Managers LLC to 40% from 35%. Says, as part of transaction, the company will divest its 35% interest in Roosevelt Road Re Ltd to Roosevelt Road Capital Partners. Roosevelt Road Capital Partners will own the other 60% of Tradesman.

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Ariana Resources PLC - exploration and development company operating in Europe - Says diamond drilling is underway in Cyprus, at the Kokkinoyia sector of the Magellan project. Says 1,260 metres of drilling planned at Kokkinoyia to further test the known mineralisation and to provide material for metallurgical testwork. Says the drilling is expected to continue in phases throughout the year

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Tissue Regenix Group PLC - Leeds-based medical devices for regenerative medicine - Announces the completion of the initial phase of its expansion plan at its San Antonio Texas facility, after securing a 10-year lease on a facility next to the original one. "The addition of our new facility, adjacent to our original site, is welcome as it provides the group the opportunity to grow with added flexibility," says Chief Executive Daniel Lee.

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Proton Motor Power Systems PLC - Munich, Germany-based fuel cells company - Says it has received a fourth order from a large international engineering and aerospace group for four more proton motor "PM Module S8" fuel cell systems. Says the customer had indicated interest for follow up orders. "We are delighted to be working with this important customer for the long term and we expect that the relationship will expand to include training and service to support international sales," says CEO Faiz Nahab.

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Wameja Ltd - partnering with Mastercard Inc to build the HomeSend global payments hub - Subscribes to further EUR1.8 million worth of shares in HomeSend. Says the equity contribution is part of a EUR6.0 million capital raise with Mastercard agreeing to contribute an additional EUR1.0 million in HomeSend. Says it will now have a 35% stake in HomeSend. Notes the continued struggle with Seamless Distribution's indemnity claims.

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Crimson Tide PLC - Tunbridge Wells, Kent-based mobile software firm - Announces contract win with food services firm Compass Group. Says the client will be utilising Crimson's software to ensure compliance across a broad range of customer and legislative requirements in the UK including brand standards, service quality, health and safety and food safety/allergen controls.

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Maintel Holdings PLC - London-based cloud and managed service provider - Inks agreement for the sale of its Managed Print Services unit to Corona Corporate Group Ltd for GBP4.5 million, expected to occur April 16.

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1Spatial PLC - Cambridge-based location data software provider - Announces the completion of the integration of the Geomap-Imagis acquisition, acquired back in May 2019. "This final step in the integration plan enables us to focus all our resources on maximising our Esri relationship, and speeding up the growth opportunities in our extensive European customer base. Our European team is now structured, focussed and incentivised for growth," says CEO Claire Milverton.

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Kazera Global PLC - investment company focused on opportunities principally, but not exclusively in the resources and energy sectors - Says diamond production in February closed at 242 carats, which means that assuming a sale price of USD200 per carat, the South African diamond division will be operating on a profitable basis once sales are achieved. Says the completion date for the acquisition of Whale Head Minerals has been extended at the company's request to end June. "The latest diamond results mean that our South African operation is now covering its own overheads. The additional revenues from the gravel stockpile and the two new areas of operation indicate that this project should be a major cash generator for the Company in the near future," says Executive Director and manager of the South African project Dennis Edmonds. Sees EUR9.1 million investment from a local Namibian investor.

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NB Distressed Debt Investment Fund Ltd - Guernsey-incorporated closed-ended fund invests in distressed, stressed and special situations investments, with a focus on senior debt backed by hard assets and on North America and Europe - Says investment manager Neuberger Berman Europe Ltd has offered to waive its entitlement to receive fees from the company with immediate effect.

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Bahamas Petroleum Co - Caribbean and Atlantic margin focused oil and gas company - Says workstreams substantially complete for drilling of the Saffron 2 appraisal well, with mobilisation of various services and equipment scheduled to commence in mid-April, and the well expected to spud on or around May 17. Says on completion of Saffron 2, a further five to nine production wells are currently planned, to be drilled in second half.

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Seplat Petroleum Development Co PLC - Nigerian oil & gas company - Says wholly owned subsidiary, Westport Oil Ltd, has successfully refinanced its existing USD100 million reserve-based lending facility due November 2023 with a new five-year USD100 million reserve-based lending facility due March 2026.

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Tekcapital PLC - UK intellectual property investment company - Says it has raised a total of GBP3.8 million before expenses via an oversubscribed placing of 38 million shares at 10 pence per share. Says the funds raised will primarily be used to increase investment in its portfolio companies Belluscura PLC, Lucyd Ltd, Salarius Ltd and Guident Ltd.

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Altus Strategies PLC - Africa-focused mining royalty company - Announces further "positive" and "consistent" intersections from drilling at the Tabakorole gold project in Mali. Altus holds a 49% equity interest and 2.5% net smelter return royalty on the project. "We are pleased to report that drilling at the Tabakorole gold project in southern Mali continues to deliver very encouraging results. Tabakorole hosts a significant gold resource, which is open along strike in both directions as well as at depth. These holes are expected to improve the modelled mineralised grades and widths of the current resource, in areas which had previously been sparsely drilled," says CEO Steven Poulton.

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Predator Oil & Gas Holdings PLC - Jersey-based oil & gas company with operations in Trinidad, Morocco and Ireland - Says capital and operating cost estimates have been generated for potential gas discovery at MOU-1 in Morocco. Says gross capital development costs for start-up production is to be between USD15.2 million and USD15.8 million, depending on haulage fuel choice and steel components used.

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Asimilar Group PLC - investment firm focused on big data, machine learning, telematics and the internet of things - Says subsidiary Intrinsic Capital Jersey has subscribed for 30 million shares at 10p each in Dev Clever Holdings PLC. Says following the transaction, Asimilar will have a 12% interest in Dev Clever.

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Directa Plus PLC - London-based producer of graphene nanoplatelets-based products for consumer and industrial use - Sees strong trading in first quarter of 2020. Revenue seen at EUR1.8 million, up 20% year-on-year from EUR1.5 million. Expects full-year revenue of EUR6.7 million, up from EUR6.5 million a year prior. Order books stands at EUR4.3 million currently. Says there is a strong pipeline of opportunities.

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Contango Holdings PLC - London-based natural resource development company - Says the Garalo gold project technical report confirms potential for about 2m ounces gold. Garalo is in Mali. Confirms that Garalo has potential to host high grade deposits within licence. Announces accelerated development schedule is underway targeting first gold in the fourth quarter of this year. "Garalo has surpassed expectations with this independent technical report establishing the potential for a 2 million ounce gold development. Acquired less than six months ago, with just a historic target of 320,000 ounces, Garalo has very quickly turned in to something far larger, with every possibility of rivalling some of its neighbours in this globally significant gold producing region," says CEO Carl Esprey.

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Telit Communications PLC - London-based company that focuses on software for the 'internet of things' - Confirms DBAY needs additional time to carry out due diligence. DBAY was bound to restrictions for six months after confirming it had no intention of making an offer for Telit in December. Says it has agreed to release DBAY from the restrictions. Notes that there can be no certainty that any offer will be made, however, DBAy confrimed that "funds managed or advised by it" were interested in 35.0 million shares, or a 26% stake in Telit. Says a further announcement will be made when appropriate.

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Premier African Minerals Ltd - southern Africa-focused miner - Says divestment of Zimbabwe assets "no longer appropriate", with the company's prospects "fundamentally different" with escalating prices of spodumene as well as an exclusive prospecting order announced on Wednesday. Says it will focus on development of Zulu Lithium & Tantalum Ltd, in Zimbabwe. Says it has received multiple approaches both proposing direct funding for the Zulu definitive feasability study as well as investment linked to product take off and future mine development.

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By Greg Roxburgh; gregroxburgh@alliancenews.com

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